5.3 What is the slope (value) of Mrs. Bain budget line? 5.4 In theory, what is the slope (value) of the indifference curve at Mrs. Bain's utility maximization point? Justify your answer. 7 Ms. Bain maximizes 6. utility (given her budget constraint) at point X, skiing 2 days and spending 3 days horseback riding. 4 Budget liņe 3 Curve B 2 Y Curve A Curve C V 1 2 3 4 5 6 7 Days of horseback riding per semester Part II Graph Days of skiing per semester 1,
5.3 What is the slope (value) of Mrs. Bain budget line? 5.4 In theory, what is the slope (value) of the indifference curve at Mrs. Bain's utility maximization point? Justify your answer. 7 Ms. Bain maximizes 6. utility (given her budget constraint) at point X, skiing 2 days and spending 3 days horseback riding. 4 Budget liņe 3 Curve B 2 Y Curve A Curve C V 1 2 3 4 5 6 7 Days of horseback riding per semester Part II Graph Days of skiing per semester 1,
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![5.3 What is the slope (value) of Mrs. Bain budget line?
5.4 In theory, what is the slope (value) of the indifference curve at Mrs. Bain's utility
maximization point? Justify your answer.
W
7
Ms. Bain maximizes
6.
utility (given her
budget constraint)
at point X, skiing 2
days and spending 3
days horseback riding.
5
4
S
Budget
line
3
Curve B
2
U
Y
Curve A
v Curve C
0
1 2 3 4 5 6 7
Days of horseback riding per semester
Part II Graph
Days of skiing per semester
1,](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4715674a-23ea-45b2-84a6-80826e95b8f5%2F87b40432-b0fc-434b-bfc1-9ebe5d3c4a73%2Fxkw1fkf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5.3 What is the slope (value) of Mrs. Bain budget line?
5.4 In theory, what is the slope (value) of the indifference curve at Mrs. Bain's utility
maximization point? Justify your answer.
W
7
Ms. Bain maximizes
6.
utility (given her
budget constraint)
at point X, skiing 2
days and spending 3
days horseback riding.
5
4
S
Budget
line
3
Curve B
2
U
Y
Curve A
v Curve C
0
1 2 3 4 5 6 7
Days of horseback riding per semester
Part II Graph
Days of skiing per semester
1,
![5. Answer 5.1 to 5.4 given that:
Mrs. Bain has a $900 per semester budget for skiing and horseback riding; skiing costs
$150/day; and horseback riding costs $200 per day.
5.1 How many days can Mrs. Bain spend horseback riding per semester if she spends her entire
budget on horseback riding?
5.2 How many days can Mrs. Bain ski per semester if she spends her entire budget on skiing?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4715674a-23ea-45b2-84a6-80826e95b8f5%2F87b40432-b0fc-434b-bfc1-9ebe5d3c4a73%2Fr81hkww_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5. Answer 5.1 to 5.4 given that:
Mrs. Bain has a $900 per semester budget for skiing and horseback riding; skiing costs
$150/day; and horseback riding costs $200 per day.
5.1 How many days can Mrs. Bain spend horseback riding per semester if she spends her entire
budget on horseback riding?
5.2 How many days can Mrs. Bain ski per semester if she spends her entire budget on skiing?
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